Marcus & Millichap has been retained as the exclusive listing agent for Ponderosa Ridge, a unique apartment community nestled in the charming California Foothills town of Pine Grove, CA. Ponderosa Ridge contains twenty-two garden-style apartment units comprised of studios, one-bedroom / one-bathroom units, and the majority of which are two bedroom / one bathroom style units. The offering also includes a duplex featuring two extremely large units that were built in a separate phase and live more like single-family homes. The almost 5.39-acre parcel has a total of 24 rentable units. At an elevation of 2,513 above sea level, Pine Grove offers residents a different pace of life above the busy Central Valley and is rich in California Gold Rush history. The town itself has a population of roughly 2,100 people and is adjacent to larger foothill population centers such as Sutter Creek and Jackson, home to the Jackson Rancheria Casino and the Sutter Amador Hospital. Current ownership has operated the property for decades; for many of those years, the owners lived onsite in the premium duplex units. Likewise, the offering is a unique opportunity for an apartment owner-user to live onsite supported by the income stream from all the rest of the units. Of the few rental competitors that exist nearby, the market suggested a new savvy investor would be able to upgrade units on turnover to increase gross potential rent by more than 25%. The allure of living below the beautiful mature tree canopy draws residents who would then be greeted with modern finishes and adequate amenities for such a small, boutique property including storage space, garages, and onsite laundry. The immediate neighborhood is comprised of mostly custom single-family homes on acreage, also a welcome reprieve for residents seeking a lifestyle consistent with Pine Grove. Furthermore, residents enjoy being “above the fog line and below the snow line.” Pine Grove serves as outdoor gateway to central Sierra outdoors. The property represents a unique value-add opportunity conveniently located on the periphery of the Sacramento/Stockton MSAs while being out of the hustle and bustle of city life. The proximity allows residents to commute to larger employment hubs. Current ownership has kept up to date with major maintenance items but has left the major rental upside opportunity up to the next owner. As the well-documented California housing shortage continues, quality assets like Ponderosa Ridge are poised to be safe investment opportunities for years to come. Please do not disturb residents or management. All tours must be scheduled through the listing agent.